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May 03, 2005

Massachusetts and Bahamas Partnership Focuses on Governance

Nassau, Bahamas – The signing of an official
partnership agreement and good governance
training were the focus of a recent International
Partnership exchange in the Bahamas. Members of
the Massachusetts Credit Union League visited
Nassau April 13-15 to learn more about the
Bahamian credit union system and to finalize
their partnership agreement with the Bahamas Co-
operative League Ltd. (BCLL). Also in
attendance, representing World Council of Credit
Unions, Inc. (WOCCU), was International
Partnerships manager Victor Corro.

On the first day of the visit, Paula Dion,
senior
vice president of professional development and
information for the Massachusetts Credit Union
League and Karen Duffy, president and CEO of
Worcester Credit Union gave a workshop at the
Bahamas league entitled "Good Governance – What
Makes a Good Board," covering such topics as
global commitment, governing style, board
member's code of conduct, the chairperson's role,
board committee principles, the cost of
governance, and board-CEO linkage. The workshop
was attended by approximately 40 board members
from various league-affiliated credit unions, as
well as Nathaniel Adderly, director of
cooperative development, Government of the
Bahamas and Wendy Warren of the Bahamas Financial
Services Board. At the end of the workshop,
Adderly declared it and the partnership a
success, saying, "We encourage this type of
exchange and welcome the relationship between
Bahamas and Massachusetts."

The second day, the delegation toured the BCUL
offices and the Bahamas Law Enforcement Co-
operative Credit
Union Ltd. and participated in a banquet
celebrating
the latter's 20th anniversary.

Board and management of the Bahams Law Enforcement Cooperative Credit Union Ltd.; Massachusetts league representatives; and WOCCU's Victor Corro

The last day, the three were joined by
Massachusetts league chairman Eugene Foley for a
tour of two other Bahamian credit unions, the
Transportation & Service Industry Co-operative
Credit Union Ltd. and the Teachers & Salaried
Workers Co-operative Credit Union Ltd. The size
and scope of these to credit unions, as well as
those visited the previous day, are quite
diverse, each providing unique perspectives on
the Bahamian credit union system.
Representatives from the Bahamas league visited
Massachusetts for the same purpose in November of
last year.

At a ceremony at the Teachers & Salaried
Workers
Co-operative Credit Union, the partnership
agreement was signed by Mr. Foley, representing
the Massachusetts league, and BCLL
representatives Francis Davis, general manager;
Rufus Johnson, president of the board; and T.
Carmichael Brown, secretary of the board. The
partners have agreed on a number of goals for the
next year, including items related to branding
and marketing strategy, financial services,
education for board members, and insurance.

World Council of Credit Unions is the global trade association and development agency for credit unions. World Council promotes the sustainable development of credit unions and other financial cooperatives around the world to empower people through access to high quality and affordable financial services. World Council advocates on behalf of the global credit union system before international organizations and works with national governments to improve legislation and regulation. Its technical assistance programs introduce new tools and technologies to strengthen credit unions' financial performance and increase their outreach.

World Council has implemented more than 290 technical assistance programs in 71 countries. Worldwide, 57,000 credit unions in 103 countries serve 208 million people. Learn more about World Council's impact around the world at www.woccu.org.